As a result of the prevailing governance structure, economic policy in democracies usually suffers from specific deficiencies. Among these are the predominance of distributive over efficiency objectives, the neglect of long-run effects, and the lack of or biased use of expert knowledge in the...

In this paper, we integrate the identity of legislators in a politico-economic analysis of parliamentary oversight whereby oversight activities depend on individual control costs and incentives. We focus on public servants selected into parliament who face a conflict of interests but also have...